Bitcoin Short-Term (Chart Signals) 1H Analysis

29 jul 2020

Let's have a quick look at Bitcoin (BTCUSD) short-term (1H Timeframe).

We have "strong consolidation" taking place.

• First, notice how prices are safely trading above EMA10.
  
• Higher lows are being printed.
  
• Red volume is small. Green volume dominant.
  
• Notice the MACD already showing a bullish cross. (pictured below).
  
• The RSI is above 50 (59.2) which is strong.
  

MACD:
- Histogram going green.
- Bullish cross.

RSI:

❗️❗️ NOTE/WARNING❗️❗️

This is a short-term chart so this signals can quickly change... On a drop and close below EMA10, must of the above signals are invalidated and a new analysis is needed.

If prices move and close below EMA50 on this timeframe, 1H, all of the signals become invalid...

Please keep this in mind.

This is not financial advice and this is not intended for trading... Do your own research.

Namaste.